Bankless: The 12 Hottest Crypto Narratives of 2024
TechFlow Selected TechFlow Selected
Bankless: The 12 Hottest Crypto Narratives of 2024
Concepts represented by AI, restaking, DA, DePIN, and Ordinals have become the hottest narratives in this bull market.
Navigating Web3 tides with focused insightsWritten by: Bankless
Translated by: Felix, PANews
Decentralized AI
Decentralized AI systems are not controlled by a single organization. AI + Crypto will be the theme of this bull market, as it may represent the most accessible investment opportunity for the general public.
Representative projects: Bittensor (TAO), The Render Network (RNDR), Grass
Restaking
Restaking assets to earn additional rewards. Restaking has become one of the hottest narratives this year. EigenLayer alone has already attracted $11 billion in deposits. An entire ecosystem of applications is being built around restaking.
Representative project: EigenLayer
Bitcoin L2
Bitcoin Layer 2 solutions aim to make transactions cheaper and faster while maintaining security. L2s can unlock capital efficiency on Bitcoin, drive adoption, and inject value into the ecosystem.
Representative projects: Lightning Labs, Stacks, BitVM
Modular
An approach to building blockchains that isolates each function from others to improve efficiency and scalability. The modular concept combines several other narratives, such as alternative L1s and DA layers.
Representative project: Celestia
Data Availability (DA)
DA ensures that all data required to verify blockchain transactions is available to anyone. Data availability layers (DA layers) will become hubs where blockchains publish their data.
Representative projects: Celestia, EigenDA, Avail
DePIN
Decentralized Physical Infrastructure Networks (DePIN) manage and coordinate real-world physical infrastructure on blockchains. DePIN represents real-world use cases for cryptocurrency and blockchain technology.
Representative projects: Helium, Hivemapper, Filecoin
Alt L1s
Alternative Layer 1 blockchains (Alt L1s) aim to address limitations of existing blockchains. This narrative dominated the previous bull market. The current consensus is that Alt L1 investments will never disappear and will remain key in every cycle.
Representative projects: Solana, Avalanche
Intents
Intents refer to the desired state changes users wish to achieve through transactions. These projects can greatly enhance the DeFi user experience by simplifying interactions in an increasingly complex multi-chain world.
Representative projects: Anoma, Essential, PropellerHeads
Interoperability
Interoperability refers to how blockchains communicate and interact with each other. Clearly, data and value need to move across many different chains—billions of dollars in TVL—and this demand will only grow.
Representative projects: LayerZero Labs, Axelar Network, Wormhole
Related reading: Cross-chain interoperability protocols: The key to connecting all chains?
Ordinals
Often referred to as "Bitcoin NFTs," Ordinals allow the creation of unique digital assets on the Bitcoin blockchain. Bitcoin holders now have the opportunity to expand their investments in these assets.
Representative projects: NodeMonkes, Quantum Cats
Parallel EVM
Innovative blockchain architectures with parallel EVM aim to overcome the scalability challenges of the traditional EVM. By executing transactions in parallel to increase throughput, these platforms hold significant potential.
Representative projects: Monad, Sei
RWAs
Real-world assets such as gold, real estate, commodities, etc.
Narrative: RWA protocols can tokenize nearly any asset in the world and bring it on-chain, thereby accessing markets worth trillions of dollars.
Representative projects: Ondo Finance, Parcl, Mattereum
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